A California jury unanimously dismissed Elon Musk's high-profile lawsuit against OpenAI on Monday, ruling that his claims were filed after the statute of limitations had expired.

The decision marks a legal setback for Musk, who had challenged OpenAI's transition from a nonprofit to a for-profit company.

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Meanwhile, attention is shifting to another Musk venture: SpaceX is preparing for its initial public offering (IPO), which could debut within weeks.

SpaceX IPO Timeline

SpaceX confirmed its intention to go public in 2026 back in December, confidentially filed its S-1 with the US Securities and Exchange Commission in April, and is expected to disclose its prospectus as early as this week.

This would pave the way for a roadshow starting June 8, with shares potentially trading by June 12, according to The Wall Street Journal.

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The company is also scheduled to conduct a crucial flight test of its latest Starship rocket prototype on Wednesday, as part of NASA's Artemis program.

Record-Breaking Fundraising Plans

SpaceX reportedly aims to raise up to $75 billion in its IPO, more than three times the current US IPO record of $22 billion set by Alibaba in 2014.

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Bloomberg reported that SpaceX has informed current investors it will execute a 5-for-1 stock split this week, reducing the per-share value from roughly $527 to $105.

BNP Paribas analysts warned in April that retail traders, who hold 40% of Tesla's shares, could face a split in loyalty between Tesla and SpaceX stocks.

Tesla debuted in 2010 with a market cap of about $1.7 billion and rose 40% on its first day.

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It is now worth roughly $1.5 trillion, making it the 10th most valuable company globally.